Xstrata claims Roseby project interest
29th Jun 2012
JUNE 29 – Xstrata Mount Isa Mines is set to go ahead with plans for development of the Roseby copper development 95km from Mount Isa in NW Queensland, Australia.
The company has given notice to the Roseby tenements’ 100% owner Altona Mining that it plans to exercise its option to acquire a 51% interest. Under the companies’ 2005 option agreement, expiring this month, Xstrata will pay “market value” for the interest.
Altona Mining has been granted an ASX trading halt pending the release of detailed information on the proposed option exercise.
Roseby has current global resources of 216Mt at 0.6% (1.26Mt) copper and 0.06g/t (384,000oz) gold, and Altona has outlined plans for a development producing 39,000tpa copper and 17,000oz pa gold commencing in late 2014.
Xstrata has conducted its own exploration for large deposits at depth in the central part of the 1400sq.km Roseby project area.
Also in the June 27 - July 3, 2012 edition
- AFRICA
- Ampella needs to ‘re-inspire’
- Impatience a virtue
- ASIA DESK
- Mongolia election won’t end uncertainty
- COAL
- Cuesta Coal delivers on Surat promise
- Hancock opens doors for junior coal play
- CONTRACTING
- Iron ore work is mining services proxy, says report
- Small contractor has big ambitions
- EUROPE
- Ortac adds familiar face in Slovakia
- EVENTS
- Crowds are growing on road to Siberia
- Miners face new delivery test
- EXPLORATION
- Browns shows value of (truly) rare earths
- FINANCE
- Macquarie's Overland shocker
- Miners: don’t take the kids to America this summer
- Touching down
- FROM THE CAPITAL
- Dividends likely to boost share prices
- GOLD
- Australia steady as gold major expands
- Gold just doing its thing
- Simple stories suit surly markets
- Unity builds confidence in Henty
- HEAVY METAL
- Cat to take centre stage in Vegas
- Heavy Metal in brief: Atlas Copco, Keech Australia, Komatsu
- INTERCEPTS
- Accident slows Palabora mine production
- Adani sets 2013 start for Carmichael coal mine
- Afferro raises Cameroon iron project
- African Mining acquires Mali portfolio
- Amex ironsands project promises low costs
- Another chair for entrepreneur Sage
- Ariana advances its Red Rabbit
- Axiom acquires Solomon Islands project
- BCD completes Tasmania mine clean-out
- Beadell races to overcome Brazilian plant delay
- Bibiani up and rising for Noble
- Bre-X gold scandal raises its head
- Broad high-grade copper hits at Kipoi
- Carbine Tungsten prepares for new project
- China extends decision on Sundance takeover
- Chinalco plans big move in Peru
- Codelco to build $400M molybdenum plant
- Colt defines maiden resource at Portuguese deposits
- Consol sells non-producing coal assets for $170M
- Decmil wins Marandoo mine contract
- DRD tidies up its retreatment businesses
- Eldorado held up by Greek court order
- Ex-Rio copper boss takes African Minerals top role
- Explorers team to fund exploration
- Feasibility due on Augusta Resource copper project
- Fire fighters battling fatal mine blaze
- Five die in Gold Fields mine fire
- Fuel bypass gets Mt Muro back to stripping
- Funding delays force King Island cutbacks
- Globe joins the gallop towards graphite
- Green light for Thor’s Molyhil project
- Helix aims for early Chilean cash flow
- Hydro-thermal dewatering plant trial planned
- Industry specialist tapped for bauxite JV
- KEFI Minerals wins Saudi family support
- Kirkland Gold $50M private placement
- Kirkland Lake doubles annual profit
- Legal doubt blocks Malaysian iron ore deal
- Lodestone studies NT iron project
- London Mining names new operations chief
- Magnitogorsk pulls the pin
- Mill shutdown stops Nex Metals mine
- Molyhil DFS offers quick capital payback
- Mungana goes it alone on Tunkillia BFS
- Murchison prepares for capital payout
- New Argentine imposts shock miner
- OreAlyzer testwork ready for new phase
- Pact puts Hot Chili on Productora fast-track
- Papillon says more to come at Fekola
- Peabody presidential changes
- QCoal names Leighton for Bowen Basin contracts
- Quebec miners caught in protest
- Resolute launches $240M Syama expansion
- Rio ties up power deal for Bell Bay
- Rio Tinto closer to union agreement at Alma
- Rio Tinto negotiating Alma aluminium industrial agreement
- Roseby contained copper increases to 1.46Mt
- Scotgold secures Cononish pre-development funding
- Sierra Rutile lifts Q2 rutile production
- Silver Lake acquires 1Moz gold project
- South African mine fire fight continues
- St Barbara set for Allied Gold merger
- Stone Resources gets all-clear at Brightstar plant
- Studies boost South Boulder’s potash project
- Study supports Luiri Gold’s Zambian project
- Teranga new loan deal hits the spot
- Testwork boosts IGO’s Karlawinda resources
- Thompson Creek battles lower production
- Tiger wins export market for DRC copper
- TNG gains foreign investment approval for NT tenement
- Toledo boosts its Berong nickel equity
- Toledo to block sale of Berong nickel interest
- Ukraine energy giant snaps up Rostov mines
- Volatility to maintain short term iron ore pricing
- Wuhan calls off Brazilian steel plant
- MINING INTELLIGENCE
- The same but different
- MINING IT
- Golden Grove looks for power savings
- State versus state-of-the-art
- PROJECT WATCH
- Apollo confirms Sequoia is a space worth watching
- UnCUT
- Yes, the drills are still turning